Tips For Buying Land To Build A Custom Home
If your dream is to build a custom home in the perfect setting, then the first step is to find the right piece of land. Even if you're not planning to build a home for a few years yet, buying the land in advance could be a good idea. Here are some suggestions for buying land for your new home.
Start Looking For Land Early
Work with a realtor that sells vacant land, so you have someone who knows the ins and outs of purchasing land as well as buying houses. When you buy the land early, this gives you plenty of time to find the ideal setting and to lock it in, so it's ready for your dream home. Also, if you plan to finance the land, buying early gives you time to pay down the loan before you take out a new loan for your home. Plus, when you own the land, you can visit it often to visualize exactly how you want your home built. You can even start planting trees, so they have a chance to mature a little while you wait to build your home.
Investigate Future Development Of The Area
While there's no way to know for certain what the future holds, you want to reduce the risk of buying a beautiful piece of land and have a shopping center go up right next to it in a few years. Talk to your realtor about zoning of the land and ways to find out about possible future development in the area. Buying a vacant lot in a planned community might be a possible way to reduce this risk. A realtor is familiar with vacant land in your area and what areas might be best for the purpose you want.
Consider Land You Can Live On While You Wait
If you find the right lot, you might be able to put a small mobile home or tiny home on it to live in temporarily. This would eliminate a rent payment for an apartment, so you can save for your new home and pay off the land faster. If you do this, you probably want land that's partly developed, so you don't have to clear it and put in a septic system and dig a well yourself and add to the expenses. Know what you want in advance so that the realtor can help you find the right lot. You may want woods you can clear yourself and develop slowly over time, or you might want a lot that's ready to start building on.
It might take some time to find the perfect land if you have several things on your checklist such as room for a small farm and a nice view. By working with a realtor, you'll be kept abreast of new listings when they hit the market so that you can grab the property if you like it before it's gone.
